Making tax relievable pension contributions
Making tax relievable contributions to your pension fund is an easy and effective way to help you achieve your financial goals.
The ROS (Revenue Online Service) tax deadline to make contributions against 2019 earnings is approaching, so now may be a good time make a contribution and claim up to 40% tax back. The deadlines is 10th December 2020 if you pay and file your returns online through ROS. The amount of tax relief you can get on your contributions depends on your age:
|Age in Tax Year||Maximum Contribution as a % of Earnings/Relevant Earnings1|
Contributions must be paid to your pension fund and returns must be filed with Revenue on or before the deadline above. Other criteria for eligibility also apply.
1 Earnings/ Relevant Earnings: Earnings from a self-employed trade or profession assessable under Schedule D or remuneration from an office or employment assessable under Schedule E, subject to a cap of €115,000 for 2019 which may increase at a rate determined by the Minister for Finance. There are complex rules defining earnings and relevant earnings for pension relief purposes.
In some situations tax relief on contributions in excess of the limits can be carried forward and relief is granted in future years.
If you would like more information or to find out if you can make a contribution, please contact us at 01 614 3311 or email email@example.com